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Quote of the Day
"Tell people what they want to hear and you can be wrong indefinitely without penalty."
(Morgan Housel)
Markets
- The Russell 2000 is now below its 200 day moving average. (sentimentrader.com)
- Tech stocks are more likely to end up in the top or bottom than in the middle, performance-wise. (klementoninvesting.substack.com)
Strategy
- There's no surefire way to identify in advance which companies are going to go onto outsized success. (novelinvestor.com)
- The ten most useless phrases in financial markets. (bloomberg.com)
- Why you should put your portfolio on autopilot. (portfoliocharts.com)
Netflix
- Netflix ($NFLX) needs more guilty pleasure shows like TLC's '90 Day Fiance.' (msn.com)
- Netflix ($NFLX) just celebrated its ten year anniversary in Canada. (bnnbloomberg.ca)
- Why does Netflix ($NFLX) keep canceling shows after a couple of seasons? (wired.com)
Finance
- A profile of Nathan Anderson of Hindenberg Research which helped spark the decline in Nikola ($NKLA) shares. (wsj.com)
- Peter Thiel is getting in on the SPAC game. (axios.com)
- The transformation of exchanges from clubby firms to conglomerates over the past twenty years is breathtaking. (economist.com)
Alternatives
- VCs and PEs are finally getting around to reducing legal expenses. (institutionalinvestor.com)
- Wealthy individuals are moving to Florida and hedge funds are following them. (bloomberg.com)
- Trend following hedge funds have not shined in 2020. (ft.com)
ETFs
- Why most thematic ETFs fail. (evidenceinvestor.com)
- iShares and Vanguard have launched new ESG ETFs. (etf.com)
Global
- Croatia crushed the curve. Then the tourists showed up. (wsj.com)
- How Italy is avoiding a second wave, so far. (bloomberg.com)
- Canada is staring down a second wave. (bnnbloomberg.ca)
- Madrid and New York City were both hit hard by the coronavirus, but Madrid is now knee deep in a second wave. (ft.com)
China
- China's online brokers are booming. (ft.com)
- What can we learn from China's egg futures market? (economist.com)
Economy
- Weekly initial unemployment claims have stalled out a high level. (calculatedriskblog.com)
- New home sales are soaring. (crossingwallstreet.com)
Earlier on Abnormal Returns
- Longform links: the important thing. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: the best time to start saving. (abnormalreturns.com)
- Every Friday I send out five links for advisers to help them think a little differently about the world. Sign up now! (newsletter.abnormalreturns.com)